News

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Unclaimed Investor Money Guidance

17th December 2024
The Commission has today issued Unclaimed Investor Money Guidance under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. Taking forward proposals consulted upon earlier in the year, the new guidance addresses the need for funds to have a policy for unclaimed investor money, to identify a responsible entity for overseeing this policy and to make appropriate disclosure to investors...

The Regulated Investment Exchange Operator Rules

17th December 2024
The Guernsey Financial Services Commission has today issued the Regulated Investment Exchange Operator Rules and Guidance, 2024 (the “RIEO Rules”), made under the Protection of Investors (Bailiwick of Guernsey) Law, 2020 (the “POI Law”). These rules will come into operation on 31 January 2025. This follows the public consultation in respect of the RIEO Rules, which closed on 12 November 2024. The...

Regulations on Protected Cell Companies (PCCs) as Pension Service Providers

17th December 2024
The Commission has made Regulations amending the scope of the types of company permitted to use a PCC structure, under the Companies (Guernsey) Law, 2008 (“the Companies Law”), to include licensed Pension Service Providers. This amendment, which will broaden the range of structures available to Pension Service Providers, follows completion of a public consultation process. Further information can...

Commission Fees for 2025

5th December 2024
The Commission plans to increase licence fees paid by firms from 1 January 2025 by 5.3%. On 11 September 2024, the Commission issued a consultation paper on the fee rates to apply from 1 January 2025 which contained the following proposals: an overall increase in fees of 5.3%; an increase in fees for Retail General Insurers to recognise the additional supervisory effort required to mitigate the...

Explanatory Note - Surrender of the Authorisation or Registration of Collective Investment Schemes

2nd December 2024
The Commission has today issued an amended version of its Explanatory Note regarding the surrender of the authorisation or registration of collective investment schemes. The amendments reflect feedback received from industry and practical experience of implementation over the one-year period since the publication of the original Explanatory Note and provide for a more flexible approach to the...

Distribution of Annual Fee Invoices and Generic Email Addresses

27th November 2024
In advance of the publication of the Commission’s fee consultation feedback paper in December, please note that in early January, the Commission will be distributing 2025 annual fee invoices using the generic email address that we hold on record for each licensee and registrant. If you wish to check which email address the Commission holds for your firm, please contact [email protected] quoting...

Investment Statistics Summary Third Quarter 2024

25th November 2024
Guernsey Funds The total net asset value of Guernsey funds at the end of the quarter was £288.8 billion, a decrease over the quarter of £6.9 billion (-2.4%). Over the past year, total net asset values are almost unchanged with a decrease of £0.1 billon. Closed-ended Schemes Within these totals, Guernsey closed-ended funds decreased over the quarter by £5.2 billion (-2.1%) to £238.8 billion. This...

Possible Phishing Attempt

30th October 2024
The Commission has become aware of a possible phishing attempt being sent purporting to be from the Director General, William Mason using the domains “gfsc-gg.com” and/or "mail-fsc-gg.com." If you have received an email from the Commission and you are unsure of its authenticity, please do not click on any links or attachments and instead forward it to [email protected]. The Commission sends its...

Discussion paper on the future of sustainability reporting in the Bailiwick of Guernsey

30th October 2024
On 30 July 2024, the Commission issued a Discussion Paper on the Future of Sustainability Reporting in the Bailiwick of Guernsey. The consultation period ran for approximately 12 weeks and closed on 25 October 2024. The Commission is very pleased to have received a material number of responses from a broad range of stakeholders including licensees, industry representative bodies and other on and...